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Thinking about exploring the realm of artificial intelligence? Don't embark on this journey alone. We're dedicated to helping banks, credit unions, and fintech companies master AI to boost customer engagement and improve financial health. Let's navigate this exciting frontier together and unlock the full potential of your organization Read our latest blog to learn more: https://lnkd.in/gvMG2Acu #Fintech #AI #FinancialHealth Yogesh (Yogi) Asudani Uday Akkaraju Adam Montgomery Rajesh Chokhani Kent Llewelyn Madhavi Kulkarni Christopher Law Jared Landrum

Artificial intelligence is positively impacting the financial lives of consumers, especially the underbanked and underrepresented in Mexico and Latin America. In a recent interview with Digital Journal, Krishna Venkatraman, chief data officer at Kueski, discussed the role AI has played in fintech innovation, its impact on boosting financial inclusion in emerging markets and what’s next for AI in financial services. https://lnkd.in/g54gGKBF #Fintech #AI #FinancialInclusion #Kueski

About a year ago, David Haber of Andreessen Horowitz launched a series of blog posts centred around how Gen AI will transform financial services (link in comments); one year on, David's colleague Angela Strange has followed on giving her predictions. Many of the observations put forward centre around driving cost savings; streamlining operations, better onboarding and automating complex workflows. Whilst clear use cases exist, I firmly believe that we are on the tipping point whereby Gen AI and LLMs will drive significant revenues, not just cost savings. Credit Canary neatly aligns to the current state (whilst maintaining a firm outlook on the future state). We're currently building out and testing LLMs that combine context from regulatory insights, legal terms to brand guidelines to deliver hyperpersonalised, compliant communications to customer in life, regardless of channel. This technology will allow banks and lenders to unlock significant cost savings, whilst maintaining alignment to both rapidly changing regulatory demands and consumer preferences. But going forward, I see firms like Credit Canary, actively leveraging Gen AI and LLMs to postively transform financial services. Selling in the benefits of cost savings to banks does peak their interest, but helping them boost their revenues AND profit really captures their full attention. I firmly believe that Gen AI and LLMs, along with enhanced preditive analytics, will play a crucial role in positvely changing financial services whilst making it impossible for bad actors operate. These technology give the ability to empower banks and lenders to offer better financial products that evolve to life changes. Banks were built on relationships, these technologies are the conduit that will get them back to it. #fintech 📸 Photo Credit: a16z

I continue to hear a consistent theme from #FI #Risk #Leaders under pressure to cut costs and find ways of doing more with less resource. If you want to hear about our #AI and #MachineLearning Use Cases that actually work, with proven cost saves whilst improving your #risk #management capabilities, give us a call today FinregE

The AI-Fintech Connection: Transforming the Financial Ecosystem The fusion of artificial intelligence (AI) and financial technology (fintech) is revolutionizing the financial ecosystem. As these two powerful forces converge, they are reshaping the way financial services are delivered, enhancing efficiency, personalization, and security. This blog explores the transformative impact of AI on fintech, highlighting key areas where this synergy is driving significant changes in the financial landscape. https://lnkd.in/dr3bJgr3 #Fintech #FinanceInnovation #DigitalFinance #TechInFinance #FinancialTechnology #AIinFinance #BlockchainFinance #FintechRevolution #PaymentsTech #Insurtech

The financial industry is under more scrutiny than ever, with regulators setting higher standards for integrating #AI and #ML in #compliance. Regulators worldwide now expect firms to go beyond traditional methods to track, assess, and respond to regulatory changes. 📈 Key Takeaways: 1. New Standards for AI in Compliance: Regulations like the #EUAI Act require firms to maintain transparency and accountability in AI usage. 2. Real-Time Monitoring and Risk Management: Manual processes are no longer sufficient. Advanced RegTech platforms, like FinregE, automate regulatory #horizonscanning, ensuring timely updates and risk readiness. 3. Proactive #ComplianceManagement: FinregE’s AI-driven solutions offer automated #impactassessments, real-time insights, and cross-departmental #workflows, enabling institutions to maintain compliance while staying agile. As compliance demands intensify, embracing advanced technology is essential for reducing #costs, preventing #fines, and achieving #operationalresilience. Learn how FinregE empowers financial institutions to stay one step ahead of evolving regulatory expectations. 👉 Read the full blog to discover how FinregE helps firms navigate the future of #regulatorychangemanagement. https://lnkd.in/eZBKNDJj #RegTech #AIinCompliance #FinancialCompliance #RiskManagement #FinregE #GenAI

DocFactory, BNP Paribas’ proprietary solution has been awarded the Editors’ Triple Star at TheAsset Triple A Treasurise Awards 2024. The tool harnesses #AI to simplify the accounts receivable reconciliation process for treasurers, and machine learning #technology to improve its own capabilities over time. BNP Paribas was also named Best Service Provider-Fintech Partner at the Treasurise Awards. Find out more about DocFactory and how #treasury teams in #AsiaPacific are overcoming unique challenges by partnering with #banks and fintechs: https://bnpp.lk/0ZggYE #BNPP4clients

Angela Strange and James da Costa at Andreessen Horowitz: "In this new AI product cycle, labor is becoming software. For the world of fintech, that means thousands of white-collar jobs at financial institutions are in line to be augmented by AI copilots and agents. Take compliance officers, who represent the fifth-fastest growing role in the U.S. over the past 20 years. At one of the large banks, 30,000 of 210,000 employees work solely in compliance. In response to an increased volume of compliance requests and more complexity, banks and financial services organizations threw more labor at the problem. With AI, companies can think software first."  https://lnkd.in/dD5HYiEu Insightful. Compliance is indeed one of the low-hanging fruits which banks and financial service firms increasingly pick with AI-driven automation. But wait, there's more! With the advent of language model based technology, a $500B/year financial services industry -- asset management -- also seems ripe for disruption. At least half of that is spent on tedious, laborious manual analysis of various verbal materials (numbers banks already tackle very efficiently, thank you very much) and reporting -- some of which is already being automated. Imagine a mere 10% productivity improvement in this area -- a hefty space for 2-3 unicorns, no?

Fintech news roundup: top stories driving the financial revolution The fast-moving fintech landscape is constantly reshaping industries and pushing boundaries. This week, two key developments are making headlines, showcasing how innovation and regulation are shaping the future. The critical role of model governance in eliminating AI bias AI bias has moved beyond tech debates to become a central issue for regulators and financial institutions. As financial services increasingly rely on AI models, addressing bias is critical. Without proper oversight, AI can perpetuate harmful stereotypes or demographic exclusions, impacting trust and decision-making. Model governance ensures transparency, fairness, and accountability in AI systems. By curating quality data and implementing strict governance processes, companies are tackling bias at its core. With human oversight integrated, the aim is to produce reliable, trustworthy AI systems. UK government takes action on late payments to small businesses On the regulatory front, the UK government is taking steps to protect small businesses from late payments, which cost SMEs billions each year. New legislation will force large companies to report their payment practices, increasing transparency and holding them accountable for timely payments. With potential criminal charges for non-compliance and a new Fair Payment Code on the horizon, these changes aim to level the playing field for small businesses and foster growth. At XBramp, we’re tracking these critical developments. Our solutions help B2B clients navigate these changes with ease, using advanced fintech tools and multi-currency digital accounts for seamless financial management. Stay ahead with XBramp—your partner in stable, innovative financial solutions.

Harness the power of machine learning in fintech! Learn how this cutting-edge technology is transforming the financial sector, leading to smarter and more efficient financial services. https://lnkd.in/dBTVF6-v #machinelearning #fintechinnovation #aiinfinance #techtrends #financialtechnology #MLApplications #fintechsolutions #futurefinance #algorithmictrading #tradingsoftware #softwaredevelopment